ED arrests two in pan-India cyber fraud crackdown case
Fahim Moin Hussain Sayed and Naim Mueen Sayyed were taken into custody on August 23 from Mumbai
The Enforcement Directorate (ED) arrested Fahim Moin Hussain Sayed and Naim Mueen Sayyed on August 23, 2026, in Mumbai as part of an investigation into a suspected pan-India cyber fraud, according to sources. The alleged criminal network is accused of defrauding victims of ₹30,000 crore through digital means, with the victims reportedly directed to transfer money into "Secret Supervision Accounts" by fraudsters.
The ED's probe began after a Goa woman was swindled out of ₹2.60 crore in May and June 2025, following which the suspects were taken into custody. The agency, under the Union Ministry of Finance's Department of Revenue, has produced the accused before a special PMLA court in Mumbai, which has remanded them to ED custody for interrogation in Panaji, Goa.
The investigation found that the fraudsters had siphoned off ₹27,000 crore worth of bank transactions and ₹3,000 crore in cash, which was converted into foreign currency. The ED has conducted two searches in Goa and Mumbai and seized ₹3.25 crore in cash. The case involves multiple FIRs and victim complaints across 20 states and union territories, with the fraud estimated at around ₹4,000 crore.
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